StockNews.com upgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY – Free Report) from a buy rating to a strong-buy rating in a research note published on Wednesday.
A number of other equities research analysts have also recently weighed in on RDY. Barclays lifted their price target on shares of Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the company an overweight rating in a research report on Wednesday. Jefferies Financial Group cut Dr. Reddy’s Laboratories from a buy rating to an underperform rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $81.00.
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Dr. Reddy’s Laboratories Trading Down 2.8 %
Institutional Investors Weigh In On Dr. Reddy’s Laboratories
A number of hedge funds have recently added to or reduced their stakes in the business. Advisor Partners II LLC grew its stake in shares of Dr. Reddy’s Laboratories by 79.4% in the third quarter. Advisor Partners II LLC now owns 13,126 shares of the company’s stock worth $878,000 after acquiring an additional 5,811 shares in the last quarter. Assetmark Inc. grew its stake in Dr. Reddy’s Laboratories by 3,969.7% during the 3rd quarter. Assetmark Inc. now owns 46,232 shares of the company’s stock worth $3,092,000 after purchasing an additional 45,096 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in Dr. Reddy’s Laboratories by 11.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,157 shares of the company’s stock worth $612,000 after purchasing an additional 914 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Dr. Reddy’s Laboratories by 87.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 85,900 shares of the company’s stock worth $5,744,000 after purchasing an additional 40,000 shares during the period. Finally, Signaturefd LLC grew its position in shares of Dr. Reddy’s Laboratories by 6.0% during the third quarter. Signaturefd LLC now owns 20,240 shares of the company’s stock worth $1,353,000 after buying an additional 1,148 shares in the last quarter. 14.02% of the stock is currently owned by institutional investors and hedge funds.
Dr. Reddy’s Laboratories Company Profile
Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations.
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